Mediobanca - Banca Di Credito Finanziario S.p.a. · MIL:MB
Mediobanca - Banca Di Credito Finanziario — Mediobanca — H1 FY2022 Earnings Presentation
64 slides from Mediobanca - Banca Di Credito Finanziario's earnings presentation, Feb 9, 2022
Slide 1: Mediobanca 6M/2Q Results as at 31 December 2021
MEDIOBANCA 6M/2Q RESULTS AS AT 31 DECEMBER 2021 Milan, 9 February 2022
Slide 2: Agenda
Agenda Section 1. Executive summary Section 2. 1H/2Q Group results Section 3. Divisional results Section 4. Closing remarks Annexes 1. Asset quality by division 2. Divisional results by quarter 3. Glossary
Slide 3: Record half-year results characterized by growth, quality and sustainability
RECORD HALF-YEAR RESULTS CHARACTERIZED BY GROWTH, QUALITY AND SUSTAINABILITY Executive summary Section 1 €1.5bn revenues (up 12%¹), record fees (up 16%1), NII back to growth (up 2%1) Best-ever asset quality indicators €526m net profit (up 28%1), 11% ROTE Accelerating performance in 2Q despite Omicro
Slide 4: Strong 6M results: €1.5bn revenues, €526m net profit, 11% ROTE
STRONG 6M RESULTS €1.5BN REVENUES, €526M NET PROFIT, 11% ROTE Executive summary Section 1 Financial results Highlights MEDIOBANCA GROUP – 6m as at Dec21 Strong commercial activity, earnings growth and shares EPSadj - 6m BVPS TBVPS n. share deletion (no. of shares -3%) pushed up 6m EPS to €0.59ps (+1
Slide 5: 6M results: divisional snapshot
6M RESULTS: DIVISIONAL SNAPSHOT Executive summary Section 1 WM: ROAC@30% Wealth Management – 6M results as at Dec21 New highs achieved in terms of commercial and financial results, with double-digit growth in TFAs and revenues, net profit growth >50% Revenues Net profit TFAs ROAC Ongoing investment
Slide 6: Strong momentum in Q2: €753m revenues, €264m net profit
STRONG MOMENTUM IN Q2 €753M REVENUES, €264M NET PROFIT Executive summary Section 1 Group: record quarter Mediobanca Group – 2Q results as at Dec21 Record revenues (€753m) and GOP (€347m) due to positive trend in all Revenues Fees CoR Net profit businesses, despite investments and seasonality in cost
Slide 7: Agenda
Agenda Section 1. Executive summary Section 2. 1H/2Q Group results Section 3. Divisional results Section 4. Closing remarks Annexes 1. Asset quality by division 2. Divisional results by quarter 3. Glossary
Slide 8: Commercial activity accelerating in 2Q
COMMERCIAL ACTIVITY ACCELERATING IN 2Q 1H22/2Q22 - Group results Section 2 WM: NNM and TFAs at all-time high €4.4bn NNM in last 6M TFA above €79bn CF: new loans recovering in volume and mix (€bn) (€bn) Loan book 79.4 TFA 5 75.2 80 13.3 14 71.5 2 13.1 4 69.3 75 12.9 12.9 66.6 70 2 12.8 12.8 13 4 64.2
Slide 9: Revenues up 12% YoY, accelerating in 2Q
REVENUES UP 12% YoY, ACCELERATING IN 2Q BENEFITING FROM RESTORED/INCREASED REVENUE-GENERATING CAPABILITIES IN ALL SEGMENTS 1H22/2Q22 - Group results Section 2 Group revenues by division (YoY, €m, 6M) Divisional revenues by Q (€m, 3M) WM: +11% +12% YoY 172 192 156 162 163 70 (10) 10 2Q21 3Q21 4Q21 1Q
Slide 10: NII back to growth, T-LTRO impact smoothed
NII BACK TO GROWTH, T-LTRO IMPACT SMOOTHED 1H22/2Q22 - Group results Section 2 NII trend by division (€m, 3M) Quarterly NII trend (€m, 3M) +2% €734m +6% €720m €695m 361 358 375 363 +2 +12 (10) 68 72 77 68 72 70 68 +3 +4 69 73 +6 68 69 72 72 74 375 237 236 358 226 223 216 214 226 Margin & CoF effect
Slide 11: Fee income: robust high-quality growth in WM and CIB
FEE INCOME: ROBUST HIGH-QUALITY GROWTH IN WM AND CIB 1H22/2Q22 - Group results Section 2 Fee income trend by division (€m, 3M) CIB fees (€m, 3M) 102 88 84 85 +22% 77 17 €443m 10 69 12 16 11 Specialty fin 12 12 €383m 16 14 15 Lending €362m 241 10 17 +19% 26 13 29 21 13 CapMkt¹ 203 189 194 188 17 59 A
Slide 12: Costs up 7% driven by strong commercial activity
COSTS UP 7% DRIVEN BY STRONG COMMERCIAL ACTIVITY BEST-IN-CLASS COST/INCOME RATIO CONFIRMED (@43%) 1H22/2Q22 - Group results Section 2 Group cost base and cost/income ratio Group cost base increase by division (€m, %, 6M) (€m, 6M) 13 45% 45% 900 C/I ratio 43% 45% 42 32 800 700 40% +7% 633 591 WM CIB
Slide 13: Prudent provisioning further tightened
PRUDENT PROVISIONING FURTHER TIGHTENED MACRO SCENARIO UNCHANGED, OVERLAYS NOT RELEASED, MORATORIA ENDED 1H22/2Q22 - Group results Section 2 Highlights Overlay stock trend (€m) IFRS9 models did not incorporate Dec21 macro upgrade ~€300m ~€290m Moratoria ended: <1% group loans, 83% expired; ~100% of 9
Slide 14: Solid asset quality trend confirmed
SOLID ASSET QUALITY TREND CONFIRMED NPLs INCIDENCE DOWN AND COVERAGE RATIO UP 1H22/2Q22 - Group results Section 2 ➢ Stage 3 – Gross NPLs down to 2.8% of gross Gross NPLs – Stage 31 Net NPLs – Stage 31 loans (vs 3.2% in June21) as well as net NPLs. (Net exposure/Loans) Small ordinary NPL disposals in
Slide 15: Positive CoR trend ongoing
POSITIVE COR TREND ONGOING 1H22/2Q22 - Group results Section 2 CoR trend (bps) 361 Group 1H21 Group 2H21 Group 1H22 50bps 54bps 55bps 248 223 197 185 196 174 183 160 141 133 85 CF 58 70 61 53 56 51 60 39 39 Group 37 14 13 6 12 27 CIB 27 18 17 8 11 11 13 3 5 WM (15) (38) (52) (54) 1Q20 2Q20 3Q20 4Q20
Slide 16: Strong capital position optimizing
STRONG CAPITAL POSITION OPTIMIZING ORGANIC CAPITAL CREATION FINANCING GROWTH & SHAREHOLDER REMUNERATION 1H22/2Q22 - Group results Section 2 CET1 phased-in1 ratio trend (%,bps) RWA density RWA density RWA density 57.1% 55.2% 53.7% 16.3% +55 -40 -20 -5 16.1% 16.1% +60 16.1% 16.3% -40 -10 15.7% -65 15.
Slide 17: 6M Group results at a glance
6M GROUP RESULTS AT A GLANCE 1H22/2Q22 - Group results Section 2 Financial results Highlights 6m D D 2Q22 1Q22 2Q21 Net income at €526m, up 28% YoY and 32% HoH, ROTE@11% €m Dec21 HoH1 YoY1 Dec21 Sept21 Dec20 Double-digit growth in revenues, to €1,459m, accelerating in 2Q Total income 1,459 +10% +12%
Slide 18: Commitment to net-zero green transition
COMMITMENT TO NET-ZERO GREEN TRANSITION … 1H22/2Q22 - Group results Section 2 MEDIOBANCA HAS ADHERED TO THE PRINCIPLES FOR RESPONSIBLE BANKING AND THE NET-ZERO BANKING ALLIANCE After joining the Principles for Responsible Banking in July 2021, in November 2021 Mediobanca joined the Net-Zero Banking
Slide 19: Enhancing the bank's ESG profile and positioning
… ENHANCING THE BANK’S ESG PROFILE AND POSITIONING 1H22/2Q22 - Group results Section 2 RATING – upgrade/confirmation from third-party ratings due to unbroken focus on ESG improvement MARKET INDEX - Mediobanca included in the new MIB ESG index MSCI CDP BLOOMBERG S&P GLOBAL rating up rating up Gender
Slide 20: Agenda
Agenda Section 1. Executive summary Section 2. 1H/2Q Group results Section 3. Divisional results Section 4. Closing remarks Annexes 1. Asset quality by division 2. Divisional results by quarter 3. Glossary
Slide 21: Group ROTE 11%: all divisions growing with high double-digit ROAC
GROUP ROTE 11% ALL DIVISIONS GROWING & WITH HIGH DOUBLE-DIGIT ROAC Revenues (€m, 6M) GOP risk adj. (€m, 6M) Net profit (€m, 6M) ROAC 9.8% ROTE 10.8% +10% +25% 8.4% +32% 9.0% 10.5% Mediobanca 1,459 ROTE adj. 1,301 1,328 592 550 689 8.3% Group 411 397 526 Dec20 June21 Dec21 Dec20 June21 Dec21 Dec20 Ju
Slide 22: Wealth Management
WEALTH MANAGEMENT 22) MEDIOBANCA
Slide 23: WM: best-ever results, sustainable growth path confirmed
WM: BEST-EVER RESULTS SUSTAINABLE GROWTH PATH CONFIRMED 6M NET PROFIT € 72m − ROAC UP TO 30% 1H22 Divisional results - WM Section 3 WM growing and reshaping. All metrics improving due to strong distribution investments, offer repositioning, scale enhancement Premier growing at best-in-class rates, w
Slide 24: NNM: €4.4bn in 6M, TFAs up to €79bn
NNM: €4.4BN IN 6M, DOUBLED HoH, ACCELERATING IN 2Q TFAs UP TO €79BN 1.8 Group TFAs and NNM trend (€bn) 0.9 1.1 0.5 Deposits AUM/AUA 1Q22 2Q22 79.4 71.5 3.5 66.6 4.4 2.7 2.2 NNM by segment NNM by segment Premier +2.1 Premier +1.5 52.1 Private +0.4 46.3 Private +3.0 42.0 AM -0.1 AM -0.3 NNM by product
Slide 25: Premier/Private: driver of growth with AUM and fees up
PREMIER/PRIVATE: DRIVER OF GROWTH WITH AUM AND FEES UP 1H22 Divisional results - WM Section 3 Revenues (€m, 6M) NNM trend (€bn, 3M) TFA stock trend (€bn) +13% +15% 195 1.2 +5% 185 34.2 173 32.5 0.9 0.9 29.9 3.6 75 0.8 3.4 Premier 0.8 0.6 66 3.1 61 +24% 12.2 13.6 10.8 112 117 120 16.0 16.9 17.0 1H21
Slide 26: Premier (CheBanca!): growth and productivity at the best market standard
PREMIER (CheBanca!): GROWTH AND PRODUCTIVITY AT THE BEST MARKET STANDARD 1H22 Divisional results - WM Section 3 Premier distribution growth CheBanca! FAs productivity vs peers1 +100 AUM flows per FA (€m) +45 996 2.6 2.6 951 2.3 868 896 848 1.8 1.9 465 493 1.6 1.5 1.6 395 414 429 1.4 1.1 0.8 0.7 453
Slide 27: CheBanca!: new state-of-the-art app launched
CHEBANCA!: NEW STATE-OF-THE-ART APP LAUNCHED FOCUS ON CUSTOMER EXPERIENCE, INVESTMENT SERVICES AND REMOTE INTERACTION 1H22 Divisional results - WM Section 3 Ongoing upgrade of CheBanca! digital platform, with the launch of a new mobile banking App in Nov.21 (with progressive releases in 2022), inten
Slide 28: Private & AM: focus on niche offer and group synergies
PRIVATE & AM: FOCUS ON NICHE OFFER AND GROUP SYNERGIES 1H22 Divisional results - WM Section 3 Private Banking Asset Management Cairn: illiquid credit platform enriched with opportunistic credit MBPB: Blackrock co-initiatives launched with €60m first products, following Bybrook acquisition; new CLO l
Slide 29: WM 6M results at a glance
WM 6M RESULTS AT A GLANCE 1H22 Divisional results - WM Section 3 Financial results Highlights 6m D D 2Q22 1Q22 2Q21 €m Best-ever results, driven by record commercial activity, Dec21 HoH1 YoY1 Dec21 Sept21 Dec20 further accelerating in 2Q Total income 364 +12% +20% 192 172 156 Net interest income 147
Slide 30: Consumer Finance
CONSUMER FINANCE 4@2\— MEDIOBANCA
Slide 31: CF: best-ever results leading to new growth season
CF: BEST-EVER RESULTS LEADING TO NEW GROWTH SEASON 6M NET PROFIT € 190m − ROAC UP TO 35% 1H22 Divisional results – CF Section 3 CF best-ever half-year results deliver record ROAC@35%, definitely overcoming Covid detour (GOP: IH22@€280m vs IH20@€254m). Compass ready to enter a new season of growth ba
Slide 32: New loans finally normalizing
NEW LOANS FINALLY NORMALIZING INCREASING RELIANCE ON DIRECT/DIGITAL DISTRIBUTION 1H22 Divisional results – CF Section 3 Quarterly new business by product (3M, €bn) Direct personal loans (3M, €bn) 1 0.6 0.6 0.6 €3.9bn 1 0.5 0.5 0.5 €3.7bn 1 €3.5bn 0.4 0.4 2.0 0 1.9 1.9 0 1.9 0.1 €3.0bn 0.1 1.8 0.1 0
Slide 33: Launch of Pagolight - Compass BNPL proprietary solution
LAUNCH OF PAGOLIGHT - COMPASS BNPL PROPRIETARY SOLUTION 1H22/2Q22 - Group results Section 2 BNPL market expected to grow >20% per year with a revenue pool of €50-250m for Italy in 20241 THE OPPORTUNITY Source of new clients for cross-selling and repeat business Innovative product to enter the e-comm
Slide 34: Asset quality at its best-ever level
ASSET QUALITY AT ITS BEST-EVER LEVEL 1H22 Divisional results – CF Section 3 Ongoing healthy trend in early risk indicators … … resulting in the lowest CoR level ever … Early deterioration index (3 months average) LLPs (€m) and cost of risk (bps) 361 380 80.0 70.0 150 330 248 60.0 223 280 185 196 183
Slide 35: CF: 6M results at a glance
CF: 6M RESULTS AT A GLANCE 1H22 Divisional results – CF Section 3 Financial results Highlights 6m D D 2Q22 1Q22 2Q21 New loans back to pre-Covid levels: €m Dec21 HoH1 YoY1 Dec21 Sept21 Dec20 €3.7bn (€1.9bn in 2Q22), up 25% YoY and 6% HoH Total income 525 +8% +2% 268 257 256 Mix improved YoY, with pe
Slide 36: Corporate & Investment Banking
CORPORATE & INVESTMENT BANKING 36
Slide 37: CIB: strong results, high-quality profitable client business
CIB: STRONG RESULTS HIGH-QUALITY PROFITABLE CLIENT BUSINESS 6M NET PROFIT € 132m − ROAC @15% 1H22 Divisional results - CIB Section 3 Strong performance by CIB business model, geared to client activity, diversified and profitable: Benign operating environment with strong activity in all businesses, A
Slide 38: Leading positioning confirmed in M&A
LEADING POSITIONING CONFIRMED IN M&A… 1H22 Divisional results - CIB Section 3 M&A Italy 2021 – Ranking by Deal Value since January 20211 Selected M&A Large Corp Transactions 72.2 71.5 63.6 Pending Pending Pending Pending Pending 54.7 44.2 40.0 € 9.3bn $ 2.9bn € 2,650m € 1.2bn € 10.8bn Cash Voluntary
Slide 39: …and in ECM and DCM
…AND IN ECM AND DCM 1H22 Divisional results - CIB Section 3 ECM Italy H2 2021 (Bookrunner) since July 20211 Mediobanca’s Capital Markets teams successfully completed several major transactions for both Italian and international clients, including in Value of deals priced as percentage DCM Fineco’s d
Slide 40: CIB 6M results at a glance
CIB 6M RESULTS AT A GLANCE 1H22 Divisional results - CIB Section 3 Financial results Highlights 6m D D 2Q22 1Q22 2Q21 €m Revenues up 7% YoY to €391m in 1H22, o/w €206m in 2Q, with all Dec21 HoH1 YoY1 Dec21 Sept21 Dec20 business segments performing well: Total income 391 +17% +7% 206 185 182 Lending:
Slide 41: Principal Investing
PRINCIPAL INVESTING 4l 482) MEDIOBANCA
Slide 42: PI – positive contribution
PI – POSITIVE CONTRIBUTION 6M NET PROFIT € 185m - ROAC@15% 1H22 Divisional results - PI Section 3 Financial results Highlights 1H22 revenues up 13% HoH and 57% YoY as 1H21 was 6m D D 2Q22 1Q22 2Q21 €m impacted by extraordinary negative charges relating to Dec21 HoH1 YoY1 Dec21 Sept21 Dec20 BSI dispo
Slide 43: Holding Functions
HOLDING FUNCTIONS = MEDIOBANCA
Slide 44: HF - optimizing a comfortable funding position
HF - OPTIMIZING A COMFORTABLE FUNDING POSITION 1H22 Divisional results - HF Section 3 Financial results Highlights 6m D D 2Q22 1Q22 2Q21 Comfortable funding position, with stock up 6% YoY to €59bn, €m Dec21 HoH1 YoY1 Dec21 Sept21 Dec20 optimized in mix and CoF: Total income (6) n.m. n.m. (5) (1) 8 D
Slide 45: Sound funding & liquidity position
SOUND FUNDING & LIQUIDITY POSITION 1H22 Divisional results - HF Section 3 Buffer comfortably above 2022 MREL requirement, MB bond issued at lowest CoF confirmed at 21.85% MREL Liabilities: 33.1%RWA Spread vs Over Recent issues Date Size MS subscription Senior MREL bonds: 11.6% SNP bond Sept21 €500m
Slide 46: Agenda
Agenda Section 1. Executive summary Section 2. 1H/2Q Group results Section 3. Divisional results Section 4. Closing remarks Annexes 1. Asset quality by division 2. Divisional results by quarter 3. Glossary
Slide 47: Business environment and structural trends strengthening Mediobanca accretive value cycle
BUSINESS ENVIRONMENT AND STRUCTURAL TRENDS ARE STRENGTHENING MEDIOBANCA ACCRETIVE VALUE CYCLE STRONG POSITIONING RESPONSIBLE REPUTABLE - HIGH QUALITY SPECIALIZED FINANCE DNA Effectiveness of MB business model, > Strong brand value Standing and quality focused on high-margin, specialized, long-term g
Slide 48: MB business model features high revenue generation capability & resilience
MB BUSINESS MODEL FEATURES HIGH REVENUE GENERATION CAPABILITY & RESILIENCE Closing remarks Section 4 Group revenues by source (€m) Revenue generating customer assets (€bn) Revenues: 5YCAGR:+6% TFA: 5YCAGR:+15% Loans: 5YCAGR:+6% 1,459 1,325 1,301 186 Dec21 27 52 79 Dec21 51 1,072 184 111 97 92 87 136
Slide 49: Flexible and efficient business model
FLEXIBLE AND EFFICIENT BUSINESS MODEL Closing remarks Section 4 GOP before LLPs and cost/income ratio (€m; %) GOP after LLPs by division and CoR (€m; bps) GOP before LLPs: +6% 5YCAGR GOP after LLPs: +10% 5YCAGR 150 102 45% 45% 50% 1000 43% 43% 55 100 1000 45% 48 50 50 40% 800 800 689 5YCAGR 0 35% 62
Slide 50: Focus on profitable & k-light activities
FOCUS ON PROFITABLE & K-LIGHT ACTIVITIES INCREASED PROFITABILITY, SOLIDITY, ASSET QUALITY IMPROVED Closing remarks Section 4 Asset profitability trend (% ROTE and CET1 trend (%) Asset quality trend (Texas ratio: % Net annualized RORWA; €bn) NPLs/CET1) 1.20% 2.2% 100.0 12% 25% 10.3% 10.5% 2.0% 9.8% 1
Slide 51: Closing remarks
CLOSING REMARKS Closing remarks Section 4 All-time record 6M results characterized by growth, sustainability and quality €1.5bn revenues (up 12%¹), record fees (up 16%1), NII back to grow (up 2%1) €526m net profit (up 28%1), 11% ROTE Revenues-earnings creation capability definitively geared up inves
Slide 52: Mediobanca 6M/2Q Results as at 31 December 2021
MEDIOBANCA 6M/2Q RESULTS AS AT 31 DECEMBER 2021 Milan, 9 February 2022
Slide 53: Agenda
Agenda Section 1. Executive summary Section 2. 1H/2Q Group results Section 3. Divisional results Section 4. Closing remarks Annexes 1. Asset quality by division 2. Divisional results by quarter 3. Glossary
Slide 54: Asset quality by division
ASSET QUALITY BY DIVISION Asset quality by division Annex 1 Net NPLs (€m) of which bad loans (€m) NPL coverage NPLs as % of loans (“deteriorate”) (“sofferenze”) 63% 65% 67% 3.3% 3.2% -13% 2.8% Gross Mediobanca -13% 1.3% 1.2% 1.0% Group 609 560 487 83 Net 72 63 Dec20 June21 Dec21 Dec20 June21 Dec21 D
Slide 55: Mediobanca Group P&L
MEDIOBANCA GROUP P&L 6M results as at December 2021 Annex 2 1H 2H 1H 2Q 1Q 4Q 3Q 2Q €m D YoY1 Dec21 June21 Dec20 Dec21 Sept21 June21 Mar21 Dec20 Total income 1,459 1,328 1,301 12% 753 706 665 663 675 Net interest income 734 695 720 2% 375 358 344 351 363 Fee income 443 362 383 16% 241 203 173 188 19
Slide 56: Mediobanca Group A&L
MEDIOBANCA GROUP A&L 6M results as at December 2021 Annex 2 D D D €bn Dec21 Sept21 June21 Dec20 QoQ1 HoH1 YoY1 Funding 59.3 57.8 56.2 55.9 +3% +6% +6% Bonds 18.9 18.8 18.4 18.7 +0% +2% +1% Direct deposits (retail&PB) 27.2 26.1 25.2 24.6 +4% +8% +11% ECB 8.4 8.5 7.4 6.2 -0% +13% +37% Others 4.7 4.4 5
Slide 57: Wealth Management results
WEALTH MANAGEMENT RESULTS 6M results as at December 2021 Annex 2 1H 2H 1H 2Q 1Q 4Q 3Q 2Q €m D YoY1 Dec21 June21 Dec20 Dec21 Sept21 June21 Mar21 Dec20 Total income 364 325 302 +20% 192 172 163 162 156 Net interest income 147 144 137 +7% 73 74 72 72 69 Fee income 213 176 160 +33% 117 96 89 87 85 Net t
Slide 58: Consumer Finance results
CONSUMER FINANCE RESULTS 6M results as at December 2021 Annex 2 1H 2H 1H 2Q 1Q 4Q 3Q 2Q €m D YoY1 Dec21 June21 Dec20 Dec21 Sept21 June21 Mar21 Dec20 Total income 525 487 515 +2% 268 257 238 249 256 Net interest income 462 430 448 +3% 236 226 214 216 223 Fee income 63 56 67 -6% 32 31 24 33 33 Total c
Slide 59: CIB results
CIB RESULTS 6M results as at December 2021 Annex 2 1H 2H 1H 2Q 1Q 4Q 3Q 2Q €m D YoY1 Dec21 June21 Dec20 Dec21 Sept21 June21 Mar21 Dec20 Total income 391 334 364 +7% 206 185 161 173 182 Net interest income 140 138 149 -6% 72 68 68 70 77 Net treasury income 63 50 44 +45% 32 32 24 25 21 Fee income 187
Slide 60: Principal Investing results
PRINCIPAL INVESTING RESULTS 6M results as at December 2021 Annex 2 1H 2H 1H 2Q 1Q 4Q 3Q 2Q €m D YoY1 Dec21 June21 Dec20 Dec21 Sept21 June21 Mar21 Dec20 Total income 194 171 124 57% 96 98 111 61 78 Impairments 0 33 19 (3) 3 15 18 6 Net result 185 180 128 44% 88 97 110 70 77 Book value (€bn) 4.6 4.4 4
Slide 61: Holding function results
HOLDING FUNCTION RESULTS 6M results as at December 2021 Annex 2 1H 2H 1H 2Q 1Q 4Q 3Q 2Q €m D YoY1 Dec21 June21 Dec20 Dec21 Sept21 June21 Mar21 Dec20 Total income (6) 17 5 n.m. (5) (1) (6) 22 8 Net interest income (26) (25) (23) +13% (12) (14) (13) (12) (9) Net treasury income 16 36 21 -26% 6 10 4 32
Slide 62: Glossary
GLOSSARY MEDIOBANCA BUSINESS SEGMENT PROFIT & LOSS (P&L) and BALANCE SHEET CIB Corporate and investment banking DPS Dividend per share WB Wholesale banking EPS Earning per share EPS adj. Earning per share adjusted1 SF Specialty finance ESG Environmental, Social, Governance CF Consumer finance FAs Fi
Slide 63: Disclaimer & declaration of head of financial reporting
DISCLAIMER & DECLARATION OF HEAD OF FINANCIAL REPORTING Disclaimer This document includes certain projections, estimates, forecasts and consequent targets which reflect the current views of Mediobanca – Banca di Credito Finanziario S.p.A. (the “Company”) with regard to future events (“forward-lookin
Slide 64: Investor contact details
INVESTOR CONTACT DETAILS Mediobanca Group Investor Relations Piazzetta Cuccia 1, 20121 Milan, Italy Jessica Spina Tel. no. (0039) 02-8829.860 Luisa Demaria Tel. no. (0039) 02-8829.647 Matteo Carotta Tel. no. (0039) 02-8829.290 Marcella Malpangotto Tel. no. (0039) 02-8829.428 Email: investor.relation